March 18, 2020 / 7:02 PM / 13 days ago

French life insurer CNP Assurances confirms dividend after shares drop 22%

PARIS, March 18 (Reuters) - French life insurer CNP Assurances sought on Wednesday to reassure investors, saying the group’s solvency ratio remained at a high level and confirming its dividend payout after shares plummetted by 22% in one day.

Fresh fears over the fallout from the coronavirus spread and shutdowns roiled markets on Wednesday. European insurance index was down 11%.

“In current market circumstances, the group solvency ratio of CNP Assurances remains at a high level. CNP Assurances confirms its proposal for a dividend of 0.94 euros per share at the General Assembly on 17 April 2020,” the insurer said.

Reporting by Maya Nikolaeva, Editing by Franklin Paul

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